Unilever to spend $5.4 bn to raise stake in Hindustan Unilever

NEW DELHI, Apr 30:� Anglo-Dutch consumer goods giant Unilever Plc will spend USD 5.4 billion to boost its stake in its Indian unit Hindustan Unilever to 75 per cent.Unilever will pay Rs 600 a share in an open offer to raise its stake in Hindustan Unilever to 75 per cent from the current 52.48 per cent, the company said in a filing to the stock exchanges.The price is 21 per cent higher than the stock's closing price of Rs 497.35 yesterday.The world's second-largest consumer goods company "is making a voluntary open offer to acquire 487,004,772 shares representing 22.52 per cent of the total Voting Share Capital from the public shareholders of Hindustan Unilever Ltd," it said. (PTI)